Fino Bank Rolls Out New Savings Account Gullak
Fino Payments Bank Zonal Head for Telangana and AP Mohammad Inayathullah (centre) along with Fino officials announcing the launch of Gullak savings account in Hyderabad
Hyderabad: Fino Payments Bank on Monday launched a new savings account called Gullak which would enable people to own a bank account with just Rs 1,000 in average balance.
The new savings account comes with a host of other features such as no annual fee, seven free ATM transactions in non-metro locations and Rupay debit card. Customers will get waiver of the minimum balance requirement if they do five UPI transactions of Rs 500 each through FinoApp in a month, make a one-year fixed deposit of Rs 5,000 in a Fino’s partner bank or credit of any government subsidy in the account.
Mohammad Inayatullah, Zonal Head-TS & AP, Fino Payments Bank said, “Our endeavour with Gullak is to help account holders develop a savings first mindset, with focus on safety and growth. Higher deposits allow customers to earn attractive interest rates going up to 7.75 per cent annually”.
Fino Payment Bank, which operates six physical branches across Telugu States, has a network of 60,000 merchant points.
